THE PROPERTY HANDBOOK 2017
Traditional malls losing shoppers
Retail property overview
Changes to the retail landscape over the past number of years have been slow but distinct, especially in hindsight. Foot counts at shopping centres have been in steady decline for almost a decade as convenience shopping captures more and more shoppers at a time when time itself is a luxury. The shopper is demanding value and discounted prices but expects this as part of her/his normal shopping experience. Retailers are now running "sales" for most of the year and all malls are forced to operate like value centres. In a country where personal safety is an issue, the ability of shopping centres to provide a space where people can meet, socialise and be entertained in a safe environment is starting to have a material impact on tenant mix. Retailing is fundamentally linked to the behaviour of the consumer. The change in consumer behaviour since the new millennium began is accelerating, driven by new and disruptive technology, proliferation of smartphones and data usage, demographic shif...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.